Agriculture accounted for 4.3% of GDP in 2008[60] and along with the food industry occupied roughly 7.7% of the labor force.[61] These two figures represent only the primary agricultural production: along with related businesses, agriculture makes up about 13% of the GDP.[46] Hungarian agriculture is virtually self-sufficient and due to traditional reasons export-oriented:[46] exports related to agriculture make up 20-25% of the total. About half of Hungary’s total land area is agricultural area under cultivation; this ratio is prominent among other EU members.[46] This is due to the country's favourable conditions including continental climate and the plains that make up about half of Hungary’s landscape. The most important crops are wheat, corn, sunflower, potato, sugar beet, canola and a wide variety of fruits (notably apple, peach, pear, grape, watermelon, plum etc.).
Hungary has long been an agricultural country, but since World War II it has become heavily industrialized. Through the 1980s, industry was largely nationally owned and two thirds of agricultural output came from collective and state farms.
By the end of 1995, almost all retail trade had been privatized and less than half of all economic output originated from state-owned enterprises.
About half of Hungary's land is arable. With highly diversified crop and livestock production, the country is self-sufficient in food. Wheat, corn, sunflower seeds, potatoes, sugar beets, and grapes are the major crops. Pigs, cattle, sheep, and poultry are raised.
Hungary has been an important producer of bauxite, and deposits of coal, copper, natural gas, oil, and uranium have been exploited as well. Mining was curtailed in the 1990s as the country moved to a market economy and found it was not cost-effective to exploit the country's minerals at world prices. There has also been a decline in gas and oil production due to the exhaustion of reserves. However, mining and metallurgy are still important, as is food processing and the manufacture of construction materials, textiles, chemicals, pharmaceuticals, steel, and motor vehicles. About one third of Hungarian industry is located in or near Budapest.
Economic History
In 2008, Hungary experienced a severe economic depression of -6.8% due to declining exports.
European Union Warns Hungary
In early January 2012, the European Union (EU) gave Hungary an ultimatum. The European Commission, the executive branch of the EU, warned that it would take legal action by January 17 unless the country modified the new laws it passed at the end of 2011. The laws, along with a new constitution, removed regulations on Prime Minister Viktor Orban's government in areas such as the media, central banking, and the judiciary. Orban relented, and in a speech to parliament said, the issue "could swiftly be resolved and remedied." In a separate warning, the European Commission said Hungary faced a possible loss of development assistance if the country did not do more to rein in its budget deficit. That was followed in March with the European Union telling Hungary it would suspend about 500 million euros in development aid unless the country show progress in cutting its deficit to 2.5% of GDP by June. President Schmitt resigned in April 2012 after Budapest's Semmelweis University withdrew his doctorate degree. A university committee issued a report that accused Schmitt of plagiarizing in his 1992 thesis. In May, the parliament elected Janos Ader, 52, Hungarian president.
In March 2013, Hungary's Parliament passed a lengthy amendment to its Constitution. The 386-seat Parliament passed the controversial amendment by a vote of 265 to 11. The amendment was considered controversial because it included several laws seen as a way for the government to regulate media, education, and even the social life of its citizens. For example, one law allowed local police to fine or jail homeless people. Another law required that state scholarship students either stay in Hungary or pay back their scholarships if they leave.
Thousands protested the amendment in Budapest. It also raised concern throughout the international community, including the Council of Europe, European Union, human rights activists, and the United States. A joint statement was released by Thorbjorn Jagland, head of the Council of Europe, and European Commission President José Manuel Barroso. The statement said that the amendment increased "concerns with respect to the principle of the rule of law, European Union law and Council of Europe standards."
Real growth rate: 1.7%.
Inflation: 3.9%.
Unemployment: 10.9%.
Arable land: 49.58%.
Agriculture: wheat, corn, sunflower seed, potatoes, sugar beets; pigs, cattle, poultry, dairy products.
Labor force: 4.274 million; agriculture 4.7%, industry 30.9%, services 64.4% (2010).
Industries: mining, metallurgy, construction materials, processed foods, textiles, chemicals (especially pharmaceuticals), motor vehicles.
Natural resources: bauxite, coal, natural gas, fertile soils, arable land.
Exports: $103.1 billion (2011 est.): machinery and equipment 55.31%, other manufactures 30.6%, food products 7.4%, raw materials 3.2%, fuels and electricity 3.3% (2009).
Imports: $93.9 billion (2011 est.): machinery and equipment 44.7%, other manufactures 41.37%, fuels and electricity 5.1%, food products, raw materials 6.7% (2011).
Major trading partners: Germany, Austria, France, Italy, UK, Romania, Poland, Russia, Netherlands, China, Slovakia (2010).
Hungary's Agriculture
Agriculture accounted for 4.3% of GDP in 2008[60] and along with the food industry occupied roughly 7.7% of the labor force.[61] These two figures represent only the primary agricultural production: along with related businesses, agriculture makes up about 13% of the GDP.[46] Hungarian agriculture is virtually self-sufficient and due to traditional reasons export-oriented:[46] exports related to agriculture make up 20-25% of the total. About half of Hungary’s total land area is agricultural area under cultivation; this ratio is prominent among other EU members.[46] This is due to the country's favourable conditions including continental climate and the plains that make up about half of Hungary’s landscape. The most important crops are wheat, corn, sunflower, potato, sugar beet, canola and a wide variety of fruits (notably apple, peach, pear, grape, watermelon, plum etc.).Hungary has long been an agricultural country, but since World War II it has become heavily industrialized. Through the 1980s, industry was largely nationally owned and two thirds of agricultural output came from collective and state farms.
By the end of 1995, almost all retail trade had been privatized and less than half of all economic output originated from state-owned enterprises.
About half of Hungary's land is arable. With highly diversified crop and livestock production, the country is self-sufficient in food. Wheat, corn, sunflower seeds, potatoes, sugar beets, and grapes are the major crops. Pigs, cattle, sheep, and poultry are raised.
Hungary has been an important producer of bauxite, and deposits of coal, copper, natural gas, oil, and uranium have been exploited as well. Mining was curtailed in the 1990s as the country moved to a market economy and found it was not cost-effective to exploit the country's minerals at world prices. There has also been a decline in gas and oil production due to the exhaustion of reserves. However, mining and metallurgy are still important, as is food processing and the manufacture of construction materials, textiles, chemicals, pharmaceuticals, steel, and motor vehicles. About one third of Hungarian industry is located in or near Budapest.
Economic History
In 2008, Hungary experienced a severe economic depression of -6.8% due to declining exports.
European Union Warns Hungary
In early January 2012, the European Union (EU) gave Hungary an ultimatum. The European Commission, the executive branch of the EU, warned that it would take legal action by January 17 unless the country modified the new laws it passed at the end of 2011. The laws, along with a new constitution, removed regulations on Prime Minister Viktor Orban's government in areas such as the media, central banking, and the judiciary. Orban relented, and in a speech to parliament said, the issue "could swiftly be resolved and remedied." In a separate warning, the European Commission said Hungary faced a possible loss of development assistance if the country did not do more to rein in its budget deficit. That was followed in March with the European Union telling Hungary it would suspend about 500 million euros in development aid unless the country show progress in cutting its deficit to 2.5% of GDP by June.President Schmitt resigned in April 2012 after Budapest's Semmelweis University withdrew his doctorate degree. A university committee issued a report that accused Schmitt of plagiarizing in his 1992 thesis. In May, the parliament elected Janos Ader, 52, Hungarian president.
In March 2013, Hungary's Parliament passed a lengthy amendment to its Constitution. The 386-seat Parliament passed the controversial amendment by a vote of 265 to 11. The amendment was considered controversial because it included several laws seen as a way for the government to regulate media, education, and even the social life of its citizens. For example, one law allowed local police to fine or jail homeless people. Another law required that state scholarship students either stay in Hungary or pay back their scholarships if they leave.
Thousands protested the amendment in Budapest. It also raised concern throughout the international community, including the Council of Europe, European Union, human rights activists, and the United States. A joint statement was released by Thorbjorn Jagland, head of the Council of Europe, and European Commission President José Manuel Barroso. The statement said that the amendment increased "concerns with respect to the principle of the rule of law, European Union law and Council of Europe standards."
Sources
Hungary: Maps, History, Geography, Government, Culture, Facts, Guide & Travel/Holidays/Cities | Infoplease.com http://www.infoplease.com/country/hungary.html?pageno=7#ixzz2nWChfyL5
Hungary: Maps, History, Geography, Government, Culture, Facts, Guide & Travel/Holidays/Cities | Infoplease.comhttp://www.infoplease.com/country/hungary.html?pageno=6#ixzz2nWCQDEla